Melco International and the Chinese developer Agile Group Holdings have decided to come together for developing an entertainment complex in Zhongshan, China.
The RMB4bn ($616m) entertainment complex in is predicted to be completed by 2025 which will have residential, entertainment and hospitality as its features.
The property, where Melco shall have 51% stake, is to include office areas, hotels, service flats, wellness centres, malls and a theme park.
As per Gambling Insider, Melco CEO Lawrence Ho said: “Over the past 15 years, Melco has been creating, developing and operating world-class entertainment facilities in Macau and globally. We are determined to play an active role in the development of the Greater Bay Area, and to leverage the incredible expertise of the group in non-gaming activities.”
Ben Lee, managing partner at iGamiX Management & Consulting added: “They bypass the usual Macau conundrum of lack of land, labour and government efficiency and have gone straight to the heart. Developing non-gaming diversification in an environment and market which will support that kind of investment.They obviously believe you don’t have to necessarily invest in Macau to win the attention of the true decision-makers.”